Carlyle CEO Kewsong Lee Steps Down; Conway to Be Interim Chief

Carlyle Group Inc. said Kewsong Lee has stepped down as chief executive officer of the US private equity giant.

Co-Founder Bill Conway, current non-executive co-chairman, will immediately serve as interim CEO during the search for a permanent replacement, the company said in a statement.

With Lee’s five-year employment agreement coming to a close at the end of the year, he and the board agreed that the time is right to begin a search for a new CEO to lead Carlyle in its next phase of growth, the company said.

A newly formed search committee will help find ...